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Tumor Embolization Devices Market Growth Accelerates: Strategic Forecast Predicts $2286.1 Billion by 2029
Tumor Embolization Devices
What Will the Tumor Embolization Devices Industry Market Size Be by 2025?
The market size for tumor embolization devices has experienced robust growth in the past few years. It is projected to increase from $1493.6 billion in 2024 to $1600.57 billion in 2025, with a compound annual growth rate (CAGR) of 7.2%. The historical growth can be credited to the advent of minimally invasive procedures, technological developments, the prevalence of cancer and an aging demographic.
What's the Long-Term Growth Forecast for the Tumor Embolization Devices Market Size Through 2029?
In the upcoming years, the market size of tumor embolization devices is anticipated to experience robust growth, expected to reach $2286.1 billion in 2029 with a compound annual growth rate (CAGR) of 9.3%. The growth projected during the forecast period is due largely to factors such as personalized medicine, combination therapies, image-guided embolization, telemedicine, and remote consultations. Significant trends anticipated for the forecast period encompass innovations in embolic agents, transarterial chemoembolization (tace), palliative care embolization, and image-guided procedures.
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What Are the Key Growth Drivers Fueling the Tumor Embolization Devices Market Expansion?
The increase in global cancer incidences is predicted to drive the expansion of the tumor embolization devices market in the coming years. For example, Macmillan Cancer Support, the UK's biggest healthcare charity, suggested in October 2022 that by 2025, the number of people with cancer will reach 3.5 million, by 2030 it will be 4 million, and by 2040, 5.3 million. Consequently, the growing rate of cancer worldwide is expected to enhance the demand for the tumor embolization market in the future years.
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What Are the Key Trends Driving Tumor Embolization Devices Market Growth?
Key operators in the tumor embolization devices market are focusing on product innovation such as angiography systems to improve the precision and efficiency of treatments aimed specifically at tumors. These angiography systems are specialized imaging tools that are used to examine blood vessels and analyze blood flow within the human body. For example, in June 2022, Siemens Healthineers, a healthcare firm based out of Germany, unveiled the Artis Icono Ceiling. This is a ceiling-mounted angiography system designed to increase accuracy in tumor embolization and other types of interventional procedures. The Artis Icono Ceiling has a quick 3D data collection feature that can acquire images at the patient's head in just 2.5 seconds and from sideway angles in 4 seconds, reducing motion distortion and lessening the requirement for contrast media. Designed with versatility in mind, the Artis Icono Ceiling can be used in a range of specialties, including interventional radiology and cardiology.
How Is the Tumor Embolization Devices Market Segmented?
The tumor embolization devices market covered in this report is segmented -
1) By Type: Radioembolic Agents, Non-radioactive Embolic Agents
2) By Application: Cancer Tumors, Noncancerous Tumors
3) By End User: Hospitals, Cancer Treatment Centers, Intensive Care Units, Surgical Centers
Subsegments:
1) By Radioembolic Agents: Yttrium-90 (Y-90) Microspheres, Holmium-166 Microspheres
2) By Non-radioactive Embolic Agents: Drug-Eluting Beads (DEBs), Microspheres (Polyvinyl Alcohol - PVA Particles), Gelatin Sponges, Liquid Embolic Agents (Onyx, Glue-Based Agents)
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Which Companies Are Leading the Charge in Tumor Embolization Devices Market Innovation?
Major companies operating in the tumor embolization devices market include Boston Scientific Corporation, Medtronic plc, Terumo Corporation, Sirtex Medical Limited, Merit Medical Systems Inc., Cook Medical LLC, AngioDynamics Inc., Siemens Healthineers AG, Johnson & Johnson, Penumbra Inc., Teleflex Incorporated, Meril Life Sciences Pvt. Ltd., Kaneka Corporation, Imagion Biosystems Ltd., Guerbet, BTI Biotechnology Institute S.L., BTG International, Avinger Inc., Shape Memory Medical Inc., Delcath Systems Inc., Endoshape Inc., InSitu Technologies Inc., Monteris Medical Corporation, NeuWave Medical Inc., Neoprobe Corporation, OncoSec Medical Incorporated, Helomics Corporation, Hologic, Surefire Medical Inc., Varian Medical Systems Inc.
Which Regions Are Leading the Global Tumor Embolization Devices Market in Revenue?
North America was the largest region in the tumor embolization devices market in 2023. Asia-Pacific was the second largest region in the tumor embolization devices market. The regions covered in the tumor embolization devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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